Disclosure de instituições financeiras em estruturas de hedge accounting

Abstract

This study investigates the adherence of Brazilian financial institutions to accounting and regulatory standards applicable to hedge accounting, with emphasis on the quality and extent of the information disclosed in their financial statements. The sample comprised 56 institutions classified in the prudential segments S1, S2, and S3 of the Central Bank of Brazil, categorized as B1 and B2, covering the period from June 2023 to December 2024. The methodology adopted was quantitative, employing descriptive statistics and panel logistic regressions, structured from a model with ten binary variables that measure both compliance with regulatory requirements and the adoption of best disclosure practices.The main results showed that the adoption of hedge accounting in Brazil is segmented: large banks (S1) concentrate the use of complex modalities; intermediate institutions (S2) seek regulatory legitimacy and selective diversification; and smaller banks (S3) reveal low adherence, constrained by costs and technical limitations. It was also observed that national groups combine conservative practices with the incorporation of advanced structures in international operations, while public institutions prioritize cash flow predictability, maintaining a more cautious stance toward sophisticated operations. Although Resolution BCB No. 352, of November 23, 2023, establishes more detailed parameters for recognition, measurement, and disclosure, its full application will only take effect in 2027, which helps explain the observed heterogeneity, with gaps in the disclosure of formal policies, effectiveness criteria, and equity impacts. The main limitations of the study relate to the non-inclusion of macroeconomic and governance variables, as well as the restriction to publicly available data, which may have limited the depth of the analysis. For future research, it is recommended to expand the scope to other jurisdictions and to assess the effects of the full implementation in 2027 of Resolution BCB No. 352/2023, of November 23, 2023, particularly regarding regulatory transparency and its impact on prudential capital. It is concluded that the advancement of hedge accounting in Brazil depends not only on the existence of robust standards, but also on the capacity of financial institutions to internalize them, thereby promoting greater comparability, reliability, and usefulness of accounting information.